The Securities and Exchange Commission just hasn’t had enough bad news recently, so last month the media piled on even more: a probe of insider-trading allegedly going on inside the SEC.
Specifically, the agency’s inspector general has found evidence of “suspicious activity, appearances of improprieties, and … possible trading on non-public information, and/or potential insider trading” on the part of two SEC enforcement attorneys. According to the inspector general’s report, the suspected wrongdoings were so serious that the matter was passed along to the U.S. attorney for Washington, D.C., for further investigation and possible civil or criminal prosecution.
It gets ...